Chimera Investment Turns To Profit In Q4

(RTTNews) - Real estate investment trust Chimera Investment Corp. (CIM) reported Wednesday that its fourth-quarter net income was $78.72 million or $0.34 per share, compared to last year's loss of $718 thousand.

Earnings available for distribution were $26.05 million or $0.11 per share, compared to $110.56 million or $0.46 per share a year ago.

On average, six analysts polled by Thomson Reuters expected earnings of $0.23 per share for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2022, net loss available to common shareholders was $586.83 million, compared to prior year's profit of $596.35 million.

Loss per share was $2.51, compared to profit of $2.44 per share a year ago.

Full-year earnings available for distribution were $256 million, or $1.08 per share. Analysts expected earnings of $1.22 per share for the year.

Interest income dropped to $773.12 million from $937.55 million last year. Net interest income was $439.83 million, down from $610.92 million a year earlier.

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